SB 4-3_ Filed 04/08/2013, 15:30
Your Committee on Ways and Means , to which was referred Senate Bill 4 , has
had the same under consideration and begs leave to report the same back to the House with the
recommendation that said bill be amended as follows:
SOURCE: Page 8, line 12; (13)AM000405.8. -->
Page 8, delete lines 12 through 42, begin a new paragraph and
SOURCE: IC 6-3.1-16-14; (13)AM000405.19. -->
"SECTION 19. IC 6-3.1-16-14 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 14. (a) The amount of
tax credits allowed under this chapter may not exceed the following
(1) seven hundred fifty thousand dollars ($750,000) in the state
fiscal year beginning July 1, 1997, and the state fiscal year
beginning July 1, 1998; and
(2) (1) Four hundred fifty thousand dollars ($450,000) in a state
fiscal year that begins July 1, after June 30, 1999, or thereafter.
and ends before July 1, 2013.
(2) One million dollars ($1,000,000) in a state fiscal year
beginning after June 30, 2013.
(b) The amount of the tax credit allowed under this chapter for
the preservation or rehabilitation of a particular property in a
particular state fiscal year may not exceed the product of:
(1) the total amount of credits that may be allowed to all
taxpayers in that state fiscal year; multiplied by
(2) twenty percent (20%).
(c) The office may not increase the amount of tax credits
allowed under subsection (a) in a particular state fiscal year by
reducing the amount specified by subsection (a) for any other state
(d) For a state fiscal year beginning after June 30, 2013, the
office shall offer the part of the maximum amount of tax credits
allowed under this chapter equal to the amount specified in
subsection (a)(2) minus the amount specified in subsection (a)(1)
first to taxpayers that received approval of a tax credit under this
chapter before July 1, 2013, but were subject to conditions that the
taxpayers claim the credit in a taxable year beginning after
December 31, 2012. If a taxpayer accepts an offer under this
subsection, the taxpayer may claim the tax credit in the taxable
year specified in the offer instead of the taxable year specified in
the condition imposed when the tax credit was originally approved
under this chapter. A taxpayer is not required to accept an offer
under this subsection and may, if the taxpayer prefers, wait to
claim the tax credit in the taxable year specified in the condition
imposed when the tax credit was originally approved under this
(e) The office shall make offers to taxpayers under subsection
(d) to accelerate the taxable year in which a credit to which
subsection (d) applies may be claimed in the order in which the
credits were originally approved under this chapter. However, the
office may make adjustments to this schedule of offers if strict
adherence to this schedule would result in part of the maximum
amount of credits allowed in a state fiscal year under this section
not being utilized.".
SOURCE: Page 9, line 1; (13)AM000405.9. -->
Page 9, delete lines 1 through 6.
Renumber all SECTIONS consecutively.
(Reference is to ESB 4 as printed March 19, 2013.)
and when so amended that said bill do pass.
AM000405/DI 92 2013